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The minimum wage was last set in 2009 at a rate of $7.25 per hour. This adjustment was part of a series of increases that took effect as a result of the Fair Minimum Wage Act of 2007, which phased in increases over a span of two years.

By July 24, 2009, the minimum wage reached $7.25, which has remained the federal standard since then. This rate is significant as it reflects not only the government's attempt to ensure a basic standard of living through wage regulation but also has implications for employer responsibilities across the country in terms of compliance with labor laws.

The other options reflect incorrect years or wage amounts, highlighting the importance of accurate information regarding minimum wage legislation.